Hedging flows among asset managers show reduced put open interest on SPY, which suggests confidence in near-term price stability for Futures SPY despite macro uncertainty. Editor’s Note: The future prices of benchmark tracking ETFs, and the lede were updated in the story. Since Insikt Group began reporting on Predator in March 2024, suspected operators of the spyware have been identified in over a dozen countries worldwide. While several of these operators have remained active in the past twelve months, activity appears to have ceased in some locations, likely due to public reporting, leading to an overall lower number of current Predator operators. For example, in the Democratic Republic of the Congo (DRC), operations seem to have stopped about two weeks after Insikt Group published its findings on DRC-linked activity in September 2024. Similarly, the suspected operator in Angola became inactive around the same period, only to resume activity in early 2025, based on Recorded Future Network Intelligence. Additionally, Insikt Group has uncovered evidence of Predator use in Mozambique — a country where no Predator operators had been identified before this report. Overnight trading in Futures SPY saw volume spikes tied to CPI revisions and dovish Fed commentary. The index futures held above the 550 level, suggesting short-term bullish bias. Analysts note breadth improvement in cyclicals, which could sustain upward momentum if macro data stays supportive.